EU accession process

Serbia advances EU-aligned financial conglomerate oversight

The National Bank of Serbia has initiated a public consultation regarding the Draft Law on Financial Conglomerates, a significant step toward aligning the country's financial regulation with European Union standards as part of its EU accession process. This move aims to enhance the regulatory framework governing financial institutions within Serbia. The proposed legislation seeks to harmonize national regulations with EU Directive 2002/87/EC, which oversees the supplementary supervision of credit institutions, insurance companies, and investment firms operating within financial conglomerates. The…